Millennium Santa Monica
2929 Pennsylvania Ave,
Santa Monica, CA 90404
Studio - 3 Beds | $3,905 - $4,404
Rental Market Trends in Santa Monica, CA
What is the average rent in Santa Monica, CA?
$3,046/month
Average Rent
576 Sq Ft
Average Apartment Size
+0.8%
Increase in the Last Year
As of February 2025, the average rent in Santa Monica, CA is $3,046 per month. This is 96% higher than the national average rent price of $1,555/month, making Santa Monica one of the most expensive cities in the US. When you rent an apartment in Santa Monica, you can expect to pay about $2,442 per month for a studio, $3,046 for a one-bedroom apartment, and around $3,829 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $4,924 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Santa Monica, CA?
In the past year, rent has increased by 0.8%, which averages out to $23 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in Santa Monica, CA
Last Updated February 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
4%
$700 - $1,000/month
6%
$1,001 - $1,500/month
8%
$1,501 - $2,000/month
81%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Santa Monica?
Based on current rent prices, Sunset Park, Ocean Park and Pico are the most affordable neighborhoods in Santa Monica.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Santa Monica?
Based on current rent prices, Downtown Santa Monica, North of Montana and Mid-City Santa Monica are the most expensive neighborhoods in Santa Monica.
Neighborhood
Average Rent
Average Sq Ft
Which Santa Monica neighborhoods have the most rentals available?
The neighborhoods in Santa Monica with the most apartments available are Mid-City Santa Monica, Downtown Santa Monica and Pico .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Santa Monica, CA?
Because the average rent in Santa Monica is $3,046, you’ll want to make about $10,153 per month or $121,836 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Santa Monica, CA compare to other nearby cities and neighborhoods?
Use the tool below to compare Santa Monica, CA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,674/month
$3,112/month
One Bedroom
$2,068/month
$4,292/month
Two Bedroom
$2,837/month
$6,037/month
Three Bedroom
$3,417/month
$15,850/month
Nearby City Rent Trends
Apartment communities in Santa Monica we think you'll love
Property Management Companies in Santa Monica, CA
Moss & Company
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194
Communities
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11,193
Units
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36
Cities
18 Communities in Santa Monica
Roque & Mark Company
-
17
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218
Units
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3
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16 Communities in Santa Monica
Greystar
-
3,243
Communities
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895,315
Units
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829
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11 Communities in Santa Monica
Howard Management Group
-
15
Communities
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196
Units
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4
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10 Communities in Santa Monica
Power Property Management
-
55
Communities
-
1,352
Units
-
12
Cities
8 Communities in Santa Monica
Lido Equities Management Group, Inc.
-
40
Communities
-
951
Units
-
6
Cities
8 Communities in Santa Monica
Douglas Emmett
-
13
Communities
-
4,372
Units
-
4
Cities
8 Communities in Santa Monica
Veritas Investments, Inc.
-
25
Communities
-
666
Units
-
4
Cities
8 Communities in Santa Monica
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.